Appeals courts finds for ex-hedge fund exec vs old partner

Reuters – A former hedge fund executive should be awarded damages after his former partner withheld profits from him, an appeals court ruled Tuesday, the latest twist in a dispute that also includes allegations that one party deliberately set a forged document on fire to avoid getting caught.

The Appellate Division, First Department, unanimously found in favor of James Melcher, who ran hedge fund Apollo Medical Partners with Brandon Fradd and claimed Fradd had denied him his proper share of profits.